UPDATE: Goldman Sachs Downgrades Cosair Gaming (CRSR) to Neutral

Goldman Sachs analyst Rod Hall downgraded Cosair Gaming (NASDAQ: CRSR) from Buy to Neutral with a price target of $44.00 (from $35.00).

The analyst comments "We note that the stock has appreciated by ~160% since its IPO on September 23, 2020. We also flag some possibility that the high demand in lockdown will be unsustainable in 2021 as comps get tougher and people shift spending of disposable income away from entertainment at home to vacations, dining out, etc. We continue to see Corsair as a high quality participant in secular video gaming and eSports growth with a strong brand position and diversified product lineup. However, the stock is now reflecting a lot of good news in our opinion with the next few quarters very hard to predict in terms of demand outcomes. We also see semiconductor supply as an increasing risk factor through the rest of 2021 as global supply is capacity limited, in particular micro-controllers which are important for a number of Corsair’s peripheral products."

For an analyst ratings summary and ratings history on Cosair Gaming click here. For more ratings news on Cosair Gaming click here.

Shares of Cosair Gaming closed at $44.70 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• New Street Research Upgrades Micron Technology (MU) to Buy
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities